ARA Asset Management issues $300 mil perpetual securities

SINGAPORE (July 13): ARA Asset Management is issuing $300 million worth of perpetual securities carrying a coupon of 5.2%.

This is ARA’s first perpetual issuance since its delisting from the Singapore Exchange following its $1 billion multicurrency debt issuance programme on June 29.

ARA says the offering received overwhelming response from investors as the group saw orders worth more than $600 million or more than double subscription rate.

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